Italy cracks down on Corsair Group Ponzi, goes after promoters
Italian authorities are cracking down on the Corsair Group Ponzi scheme.
CONSOB has already been banned the company’s website nationwide.
Now a 49 year old suspect’s home has also been raided, and he’s been warned of pending criminal action.
Corsair Group markets itself as “an International Consortium of Companies”, which is a fancy term given to the shell company’s Frank Ricketts set up to launder invested funds through.
These include Sepco, Socium Holdings, Ecovo, Amplivo, EltronX and Plastic Waste Solution.
After setting up Corsair Group Frank Ricketts cashed out and disappeared.
Jussi Veikko Saloranta, an old associate of Staffan Liback’s and Rickett’s chosen frontman for Sepco Industries, was left in charge as Corsair Group’s CEO.
Dubbed the “green scam” due to its Ponzi ruse being recycling, the Italian operation focuses on Corsair Group’s “Italian leader”.
Back in January Corsair Group named two “executive coordinators” for Italy on its website:
Today only Roberto Frezza is listed. Onl LinkedIn Frezza cites himself as “Head of Italy at Corsair Group International”.
Frezza is a good candidate but doesn’t look forty-nine.
Andrea Cerio on the other hand…
Cerio being based out of Presaro, syncs with the Economic-Financial Police Unit of the Pesaro Finance Police leading the investigation.
For now Italian authorities aren’t naming their suspect. All we know is as a “precautionary measure”, he’s been prohibited from “practicing the profession” for twelve months.
Not sure if that profession is MLM or something else. Assuming it’s not a blatant coverup, this ban might explain Cerio disappearing from Corsair Group’s website.
As reported by Vivere Pesaro;
The man, making use of a network of subordinate collaborators of whom he professed himself “leader” and “Italian manager”, promoted and placed through remote communication techniques (mainly all social networks and some dedicated websites), financial instruments / investment services and activities, according to the accusation in violation of art. 166 of the Consolidated Law on financial intermediation provisions (financial abusiveness), an offense that provides for a legal penalty of up to 8 years of imprisonment.
The Economic-Financial Police Unit of the Pesaro Finance Police’s investigation into Corsair Group continues. Authorities are reported to be looking into Italian promoters of the scheme.
CONSOB, Italy’s top financial regulator, banned Corsair Group nationally back in January.